News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed's Kashkari Again Says Raising Rates A Mistake Given Weak Inflation

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Federal Reserve Bank of Minneapolis President Neel Kashkari reiterated Monday that he believes raising rates right now is a bad idea.

CFTC Wants More Firms to Self-Report Wrongdoing

A top U.S. markets regulator unveiled a new enforcement framework that relies more heavily on firms to self-report wrongdoing and gives them new incentives to cooperate with probes.

Senate GOP Aims to Vote on CFPB Rule as Early as Tuesday

Republican leaders in the Senate aim to hold a vote as early as Tuesday on killing the Consumer Financial Protection Bureau's arbitration rule, according to Senate aides.

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Deal Boutique Greenhill Lands a Lifeline

Legendary Wall Street deal maker Robert Greenhill is throwing a lifeline to the firm he founded two decades ago, which has been largely left behind in the recent merger boom. Greenhill & Co. said its founder, along with CEO Scott Bok, will each invest $10 million in the company as part of a broader reorganization

Hurricane Maria Damage Estimate: As Much as $85 Billion in Insured Losses

Hurricane Maria caused an estimated $40 billion to $85 billion in insured losses, mostly in Puerto Rico, catastrophe-modeling firm AIR Worldwide said Monday.

Brexit Conundrum: What To Do With Thousands of Derivatives Contracts

The Bank of England said the U.K. and the EU need to reach an agreement to protect the validity of trillions of dollars' worth of derivatives contracts post-Brexit.

Morgan Stanley to Pay $13 Million Over UIT Supervision

Wall Street's self-regulator ordered Morgan Stanley to pay $13 million in fines and restitution to clients for failing to properly supervise trades that increased charges and fees to customers of certain investment funds.

CFTC Fines Citigroup Over Swaps Reporting

The Commodity Futures Trading Commission fined two Citigroup subsidiaries for failing to properly report swap transactions, the latest in a series of such penalties by the regulator.

SEC Chairman Says Agency Didn't Do Enough to Size Up 2016 Hack

The chairman of the SEC is expected to say that his agency may have mishandled a breach of its system for disclosing market-moving news and promise to intensify how it defends itself against hackers.

AIG Retools Operating Structure Following Pledge From CEO

AIG is shuffling its structure and top leadership ranks as the insurance giant looks to begin an expansion that is expected to include acquisitions.

(END) Dow Jones Newswires

September 26, 2017 00:15 ET (04:15 GMT)